Global Hydrogen Generation Market to Reach USD 272.4 Billion by 2033, Impelled by Increasing Green Energy Demand

November 07, 2024 | Energy & Mining

The latest report by IMARC Group, titled “Hydrogen Generation Market Report by Technology (Coal Gasification, Steam Methane Reforming, and Others), Application (Methanol Production, Ammonia Production, Petroleum Refinery, Transportation, Power Generation, and Others), Systems Type (Merchant, Captive), and Region 2025-2033,” finds that the global hydrogen generation market size reached USD 172.5 Billion in 2024. Hydrogen (H) is a colorless, odorless, and tasteless gas that is highly flammable and insoluble in water. It is generated using various resources, including biomass, fossil fuels, and water electrolysis with electricity. For instance, the thermochemical procedure utilizes fossil fuels to release hydrogen, whereas other processes, such as hydrogen generators, produce hydrogen from water and fossil fuels, utilizing steam reforming and electrolysis methods. Nowadays, new methods are being introduced using algae and bacteria, which are efficient, environment-friendly and economical. As a result, there has been an escalating demand for hydrogen generation in refining petroleum, treating metals, producing fertilizers, and processing food products, and as a fuel in electric vehicles (EVs) across the globe.

Global Hydrogen Generation Market Trends:

The market is primarily driven by the surging need for green energy, which is escalating the demand for sustainable energy sources like hydrogen. In addition, with the rising awareness regarding zero-emission and eco-friendly vehicles, manufacturers are developing hydrogen vehicles powered by electricity produced by mixing hydrogen and oxygen. Moreover, various government authorities are implementing stringent regulations to lower carbon emissions in the automotive industries, which is accelerating the sales of EVs across the globe. Besides this, the increasing utilization of hydrogen as a coolant in power plant generators are positively influencing the market growth. Furthermore, hydrogen generation using nuclear energy is a cost-effective solution for reducing carbon footprint while meeting the critical global climate challenge. This has escalated the demand for hydrogen generation in fertilizer production, glass purification, and semiconductor manufacturing across the globe, thereby propelling market growth. Looking forward, IMARC Group expects the market value to reach USD 272.4 Billion by 2033, exhibiting a CAGR of 5.14% during 2025-2033.

Market Summary:

Based on technology, the market has been segmented into coal gasification, steam methane reforming, and others.
On the basis ofthe application, the market has been classified into ammonia production, petroleum refinery, methanol production, transportation, power generation, and others.
Based onthe systems type, the market has been bifurcated into merchant and captive.
Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
The competitive landscape of the market has been examined in the report, with some of the key players being Air Liquide International S.A., Air Products Inc, CLAIND srl, INOX Air Products Ltd., Linde plc, Mahler AGS GmbH, McPhy Energy S.A., Messer Group GmbH, NEL Hydrogen, Taiyo Nippon Sanso Corporation, Weldstar Inc. and Xebec Adsorption Inc.

Report Scope:

Report Features	Details
Base Year of the Analysis	2024
Historical Period	2019-2024
Forecast Period	2025-2033
Units	Billion USD
Segment Coverage	Technology, Application, Systems Type, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	Air Liquide International S.A., Air Products Inc, CLAIND srl, INOX Air Products Ltd., Linde plc, Mahler AGS GmbH, McPhy Energy S.A., Messer Group GmbH, NEL Hydrogen, Taiyo Nippon Sanso Corporation, Weldstar Inc. and Xebec Adsorption Inc.
Customization Scope	10% Free Customization
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Hydrogen Generation Market to Reach USD 272.4 Billion by 2033, Impelled by Increasing Green Energy Demand

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